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Foreign Exchange Daily Strategist Asia
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The BNP Paribas FX Daily Strategist is produced by the FX Strategy team.
It provides an extremely market focused summary of the major events influencing foreign exchange markets, highlighting trading opportunities and identifying risks. Specific trading recommendations are provided for the major currency pairs on a daily basis (including technical trading models), taking into account the fundamental background as well as the technical outlook and overall market positioning.
Frequency : Daily
Available versions : English
Access : Confidential
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| Dates | Issues | PDF |
| Nov 03, 2009 |
FX Daily Strategist Asia: Strong positive surprises from the latest US .......
Strong positive surprises from the latest US data releases following the rebound in the European Manufacturing PMIs have fuelled a rebound in asset markets globally, providing renewed support for the procyclical currencies against the USD. Indeed, the rebound in the ISM has exceeded expectations with US construction spending and pending homes sales also coming in much stronger than expected. This has restored investor confidence in the global recovery process, for the time being at least, allowing EURUSD to break higher through the near-term down trendline resistance, suggesting that the corrective activity seen over the past week is now coming to an end and we would anticipated further near-term gains to target the 1.4925 area over the coming days. The SEK is also benefiting given its pro-cyclical characteristics, also helped by an upward surprise from the Swedish PMI for October, suggesting that the focus will return to the recent USDSEK lows in the 6.7580 area. However, despite the current bullish reaction to the recent positive data there is one potential area of concern. Within the ISM data the strong rebound in the employment index could increase speculation of an early end to the very accommodative
Article published by Hans-Guenter Redeker, Ian Stannard |  (Size : 590 Ko) |
| Nov 02, 2009 |
FX Daily Strategist Asia: This week will be dominated by central
This week will be dominated by central banks, starting with the RBA on Tuesday likely raising rates by 25bps. The Riksbank will release its minutes on Wednesday and these minutes will provide a dovish read. We suggest trading NOKSEK long despite oil prices coming off due to the USD's upside correction. Meanwhile, the euro will remain under selling pressure as CEE has started wobbling again after seeing the Ukraine government signing off a 20% wage increase deal in the public sector putting the USD16bln IMF aid at risk. GBPUSD has failed at 1.6610 and is now expected to break lower. On Wednesday, the Fed will have to walk a fine line not only having to consider national but also international interests. For now we remain USD bullish across the board (including Asia) and see JPY crosses sharply lower. http://globalmarkets.bnpparibas.com
Article published by Hans-Guenter Redeker, Ian Stannard | (Size : 623 Ko) |
| Oct 30, 2009 |
FX Daily Strategist Asia: This week will be dominated by central banks, starting with the RBA on Tuesday likely raising rates by 25bps.
The Riksbank will release its minutes on Wednesday and these minutes will provide a dovish read. We suggest trading NOKSEK long despite oil prices coming off due to the USD?s upside correction. Meanwhile, the euro will remain under selling pressure as CEE has started wobbling again after seeing the Ukraine government signing off a 20% wage increase deal in the public sector putting the USD16bln IMF aid at risk. GBPUSD has failed at 1.6610 and is now expected to break lower. On Wednesday, the Fed will have to walk a fine line not only having to consider national but also international interests. For now we remain USD bullish across the board (including Asia) and see JPY crosses sharply lower.
Article published by Hans-Guenter Redeker, Ian Stannard | (Size : 623 Ko) |
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